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1. Your Story Matters
Madam CJ Walker had a story. She used this story to the advantage of her products and people were able to relate because some of them are probably going through the same issues Madam CJ was going. Your story matters. This shows the importance of story in your business. Most of the time people do not buy your product, they buy the story behind it and the results.
2. Result is key:
Madam CJ Walker did not just have a story, she had results. Anyone can have a story but what is better than a story is showing the world your transformation. She sold the ‘HOW’. She told people her story but she did not stop there, she showed them the result which was herself – her hair and her confidence level. Results aid people to trust in your brand and business and in turn create revenue for you.
3. Tenacity
Starting a business or sustaining one is not a walk in the park. One of the attributes you need to be a successful business owner is tenacity. You fall, you get back up stronger. You get disappointments, you do not let it affect you or your dreams and goals. Madam CJ Walker was resilient in the face of adversaries and obstacles. If you know you cannot withstand failure or disappointments then probably entrepreneurship is not for you. Madam CJ, made a lot of batches when she started out but she finally got the right mix in the end. Some of us would have given up saying it is not for you.
4. You cannot do it alone
In the movie, you could see that at the beginning Madam CJ Walker was helped by her then husband, her daughter, daughter’s husband, and father-in-law. In your journey, you would need advice, encouragement, and physical help from people around you even if you have to start with hiring volunteers. Two heads are better than one so imagine more than two heads.
5. Do not focus on the competition
Do not get carried away by forever stalking your competition and watching what they are doing. If you are true to your business and your business is authentic, you would probably would not have time to spend stalking and focusing on your competitors. You can see what they are doing and get inspiration but not to copy. Study your competition and make note of where they are lacking, can you leverage on what is missing in their processes? Be strategic.
6. Treat your team well
No matter what and where you are in life, always treat your team well because a business without a team is nothing…it will be hard to scale a business. If you want your business to be treated well, then you have to treat your team well. If you remember John, Madam CJ’s son in law in the movie, she talked down on and did not treat him well. This is possibly because of her perception and her stand about him as her daughter’s husband. This treatment led John to become a mole and a snitch for Madam CJ’s direct competition.
7. Succession Plan
Do you have a succession plan? If and when anything happens, who can and will carry on your legacy? Expansion plan? Are you training the next generation that can take over from you one day? Are you just operating a one man show that when you are gone, your business dreams are gone with you? What is your succession plan? Madam CJ, intentionally and purposeful took her daughter, Lelia and trained her well enough to take over her empire and legacy.
8. Your reputation is key
You thinking people are not watching or listening to you? Well, they are. Make sure what see and hear are things that could propel your brand forward. Madam CJ traveled to New York with her daughter, they met with some investors and they told her they would love to be in business with her because of what they have read about her in the New York Times and that her reputation precedes her. Your reputation can either make or break you. What will it be for you?
9. Start small Think bigger
There is no reason whatsoever why you need to start small and remain small. Start small but thing big! Madam CJ started small but she had bigger dreams and goals. She wanted to empower coloured women to be independent and be financially free and that’s exactly what she did! She has a factory, had her own convention and started the movement for coloured women. What could you do to expand your business? Training? Courses? And many more
I hope you have found these points educative and insightful. If you are a business owner and you are yet to watch the 4 part series, I would advise you to please try and create time to watch. You will learn a lot.
Let me know which one stands out more for you or resonates more with you in the comment section.
Until Next Time
MaryFash
Your Startup Coach & Consultant